Circle Internet Group (NYSE:CRCL) Shares Up 6.1% - Here's What Happened

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report)'s share price shot up 6.1% during trading on Friday . The company traded as high as $192.50 and last traded at $188.77. 17,191,952 shares traded hands during trading, a decline of 61% from the average session volume of 43,950,372 shares. The stock had previously closed at $177.97.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CRCL. The Goldman Sachs Group began coverage on Circle Internet Group in a research note on Monday, June 30th. They set a "neutral" rating and a $83.00 price target for the company. Barclays started coverage on Circle Internet Group in a research note on Monday, June 30th. They issued an "overweight" rating and a $215.00 price objective for the company. Citigroup started coverage on Circle Internet Group in a research note on Monday, June 30th. They issued a "buy" rating and a $243.00 price objective for the company. Compass Point started coverage on Circle Internet Group in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $205.00 price objective for the company. Finally, Needham & Company LLC started coverage on Circle Internet Group in a research note on Monday, June 30th. They issued a "buy" rating and a $250.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $189.78.

Circle Internet Group Price Performance

The firm has a market cap of $42.01 billion and a P/E ratio of -14,917.81.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 200,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $5,860,000.00. Following the completion of the sale, the chief financial officer owned 320,371 shares of the company's stock, valued at $9,386,870.30. This trade represents a 38.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rajeev V. Date sold 50,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $1,465,000.00. Following the sale, the director directly owned 238,513 shares of the company's stock, valued at approximately $6,988,430.90. This trade represents a 17.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,682,884 shares of company stock valued at $195,808,501.

About Circle Internet Group

Founded in 2013, Circle's mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.